Mersana Therapeutics (NASDAQ:MRSN) Issues Earnings Results

Mersana Therapeutics (NASDAQ:MRSN) announced its earnings results on Tuesday. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03), Briefing.com reports. Mersana Therapeutics had a negative net margin of 352.01% and a negative return on equity of 260.65%. The business had revenue of $2.30 million for the quarter, compared to analyst estimates of $8.72 million. During the same quarter in the prior year, the business earned ($0.47) earnings per share. The firm’s revenue was down 78.3% on a year-over-year basis.

Mersana Therapeutics Stock Performance

MRSN stock traded down $0.18 during trading on Friday, reaching $1.31. 1,561,727 shares of the company’s stock were exchanged, compared to its average volume of 1,858,557. Mersana Therapeutics has a 1-year low of $1.07 and a 1-year high of $6.28. The firm has a market cap of $160.29 million, a PE ratio of -1.15 and a beta of 1.55. The company’s fifty day moving average price is $1.91 and its 200-day moving average price is $3.10. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.72.

Wall Street Analyst Weigh In

MRSN has been the topic of several recent analyst reports. Robert W. Baird cut their price target on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday. Lifesci Capital upgraded shares of Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.